Digi Power X Inc.

Good morning and welcome to DigiPowerX, Inc.' 's third quarter 2025 financial results conference call. Please note that this event is being recorded and a transcript will be available on DigiPowerX, Inc.' 's website. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. Unless noted otherwise, all amounts referred to during the call are denominated in US dollars. Certain comments made during this call may include forward-looking statements or forward-looking information within the meaning of applicable US and Canadian securities laws. Such statements and information reflect current expectations and as such are subject to a variety of risks and uncertainties that could cause actual results to differ materially from current expectations. Those risks and uncertainties include, but are not limited to, factors discussed in DigiPowerX, Inc.' 's report on Form 6-K for the three and nine months ended September 30, 2025, and the annual report for the year ended December 31, 2024, as well as the company's other disclosure documents. Except to the extent required by applicable law, DigiPower X undertakes no obligation to publicly update or review any forward-looking statements or information. During the call, management may make reference to certain non-IFRS measures that are not separately defined under IFRS, such as EBITDA and adjusted EBITDA. Management believes that those non-IFRS measures, when considered in conjunction with IFSC, IFRS financial measures provide useful information for both management and investors. Reconciliations between IFRS and non-IFRS measures are presented in the tables accompanying the press release highlighting DigiPowerX financial results as of the quarter ended September 30, 2025. have been filed and made accessible under the company's continuous disclosure profile on CDAR Plus at www.cdarplus.ca and are also available on the SEC's EDGAR website at www.sec.gov forward slash EDGAR. I would now like to turn the call over to Michelle Amar, CEO of DigiPowerX. Please go ahead, sir.

Good morning, everyone. Q3 2025 was a transformational quarter for DG PowerX as we strengthened our balance sheet, accelerated our shift into AI infrastructure, and delivered positive net earnings. Quarter highlights. Working capital went from half a million dollars in Q3 2024 up to 15 million dollars This quarter. Net income, positive. $300,000 versus a 6.4 million loss last year. EBITDA, $1.9 million positive. Adjusted EBITDA, $0.8 million positive. Digital assets. BTC holdings up 143% to 97 Bitcoin. Ethereum, 1,000 tokens. Total digital currency value, 15.4 million, up 213% year over year. Warrants, reduced from 8.8 million warrants to 2.6 million outstanding. Debt, no long-term debt. CAPEX, $3.1 million in Q3, 9.5 million year-to-date, primarily tied to tier three AI data center conversion. Strategic and operational progress. Our first ARMS 200 Tier 3 AI pod assembly began in Q4 2025 and will be online in Q1 2026. Approved 60 megawatt load study in New York enabling future AI expansions. First NVIDIA D200 cluster built with Super Macro on track for Q1 2026 activation. advancing long-term co-location and AI compute agreement with multiple potential customers. Beginning January 2026, ARMS 200 modules will be deployed across all Tier 3 sites. Energy revenue grew 112% year-over-year to $8.7 million. Cost of revenue and depreciation reduced by 9.3 million year-to-date. Neoclub-Z, our GPU as a service platform, launching January 2026. Financial position today. Over $90 million in cash, BTC, ETH, and equivalents. The strongest liquidity in company history. Our liquidity equals more than one-third of our market cap. This capital fully supports the 2026 AI infrastructure built out. AI transition across power assets. Phase 1 deployment. Q1 2026, 5 megawatts. Phase 2, Q2 2026, 15 megawatts. Phase 3, Q3 2026, an additional 30 megawatts. So by Q4 2026, we would have deployed 55 megawatts which is 40 megawatt critical IT load. Current power availability, Alabama 55 megawatt, New York upstate 141.7 megawatt, for a total of close to 200 megawatts of power available for 2026. North Carolina, an additional 200 megawatts anticipated in 2028. DigiPowerX is now firmly positioned as a next-generation Tier 3 AI infrastructure company. With the ARMS 200 platform, the Neoclass Z platform, major power capacity, and Tier 3 deployment on the way, we are building a scalable identity AI compute ecosystem ready to serve both emerging AI companies and enterprise customers. We've never been better positioned for growth.

Thank you. We'll now be conducting a question and answer session. Our first question comes from Jeremy Hayes. What are your expectations in AI revenues in 2026 and 2027?